Couple #1 has HAD IT with debt! They have been married for many years and have two children.
It has now been two full months since they embarked on their Debt Freedom March!
Here's the update for this month!
What went well this month …
The budget is in effect and being cursed daily. The debt is being taken out 1 by 1. Two Cards are ZERO and a 3rd will fall this month The emergency fund is funded.
Challenges and struggles for this month …
It is hard because Christmas is coming ,and I have obviously not looked at a calendar. I am going to do the best I can to go without in other areas and cut back on total Chistmas spending. This time next year I will have Christmas already funded.
Here is what their updated Debt Freedom Date calculation looks like.
You can calculate your own Debt Freedom Date by clicking HERE
Sangl says …
The first three months of budgeting are the most difficult. You are changing your spending behavior and that takes a lot of effort! I am proud of Couple #1 for sticking to the plan! The plan will work if Couple #1 works the plan!
Couple #1 gained 0.20 months toward their debt freedom over the past month, but don't miss the HUGE accomplishments! Two of their credit cards have left AND they now have an emergency fund! Take a lesson from Couple #1 – BEFORE you go attack debt, make sure that you save up at least $1,000 in a beginner emergency fund. If you have kids or a house, I recommend at least $2,500!
A note to Couple #1 – You don't have to incur debt for Christmas! This is THE YEAR and THE TIME that you are changing your spending behavior! The best Christmas in the world is the one that is a blessing to you and your family. Avoiding debt will bless your family!
Way to go Couple #1, you are on your way!
Would you write Couple #1 a note of encouragement – especially as to how you have avoided Christmas debt?